Dear friends,
My client is manufacturer, he also provides some labour services. his turnover excluding labour services is Rs.60 crores. incase of labour turnover is Rs.25 lacs. now my question is whether he will be liable to pay interest at 18% or 15% in case of delay payment of service tax. as per amendement act 2011 if the turnover is above Rs.60 lacs then interest will be charged by 18%, else 15%.
What would be the definition of turnover in this case, only labour services or it includes manufaturing material also.???
pls reply me fast
CAclubindia
